Joe.My.God. LGBT News
The New York Times reports:
President Biden will announce on Tuesday that he is raising tariffs on an array of Chinese imports, including electric vehicles, solar cells, semiconductors and advanced batteries, in what he calls an effort to protect strategic American industries from a new wave of competitors that are unfairly subsidized by Beijing.
Mr. Biden’s moves are the latest trade-war escalation from a president who initially pledged to repeal at least some of the Trump tariffs but now refuses to cede any ground to his rival in a tough-on-China appeal to swing voters in the industrial Midwest and beyond.
The biggest increase will be the quadrupling of tariffs on Chinese electric vehicles to 100 percent from 25 percent. That move is aimed at shielding a corner of the American automotive industry that is in line to receive hundreds of billions of dollars in federal subsidies to help the United States transition to a clean energy future.
Read the full article.
Completely reasonable to see batteries and energy as a strategic industry worth of protection and the specific track record of protectionism in the auto industry is pretty good — all those “transplant” factories in the South are here for a reason. https://t.co/7zFPV4hkq0
— Matthew Yglesias (@mattyglesias) May 13, 2024